The Pension Corporation provides pension administration services on behalf of BC’s College, Municipal, Public Service, Teachers’ and WorkSafeBC pension plans. Our purpose is to make the pension experience easy for those we serve: plan members, employers and trustees.
The Public Sector Pension Plans Act established the Pension Corporation. The act directs the four pension plans governed by the act—the College, Municipal, Public Service and Teachers' pension plans—to retain the services of the Pension Corporation as plan administrator. The Pension Corporation also continues to administer the Members of the Legislative Assembly Pension Plan for MLAs in BC’s provincial government. In addition, the corporation administers pension plans on behalf of other clients through agreements with individual plan sponsors, such as the Workers' Compensation Board (WCB).
The British Columbia Pension Corporation is one of the largest pension plan administrative agents in Canada. Created in 2000, the corporation operates on a not-for-profit basis under the provisions of the Public Sector Pension Plans Act.
There are two kinds of reporting relationships between the Pension Corporation and its clients and, in both cases, the chief executive officer (CEO) is the primary link.
The Pension Corporation's board of directors (identified in the legislation as the "Pension Management Board") governs, or oversees the management of, the Pension Corporation.